This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stock Futures Cautious Even as Apple Gains, Berkshire Advances

NEW YORK ( TheStreet) -- Stock futures were little changed Monday after major U.S. equity averages finished at record highs Friday and as investors appeared cautious about putting more money into a record market ahead of a series of Federal Reserve Bank president speeches throughout the week that will be scrutinized for details about a possible schedule for stimulus tapering.

Futures for the S&P 500 were down 1.75 points, or 2.57 points below fair value, to 1,702.25. Futures for the Dow Jones Industrial Average were off 14 points, or 19.36 points below fair value, to 15,576.

Both the Dow and S&P hit record closing highs Friday despite a weaker-than-expected July employment report amid speculation that the Fed may not begin cutting-back on its stimulus program after the Fed's September meeting. As a result, benchmark 10-year Treasury soared with the yield falling from two-year highs.

Futures for the Nasdaq were down 0.5 points, or 1.22 points below fair value, to 3,135.5.

Apple (AAPL - Get Report) shares edged up 0.73% to $465.80 in premarket trading on Monday. The Obama administration vetoed on Saturday a ban on imports of some Apple iPads and older iPhones, dealing a setback to rival Samsung.

At 10 a.m. EDT, the Institute for Supply Management's non-manufacturing Index is expected by economists to show an improvement in services sector conditions, with a rise to 53 for July from a drop to 52.2 in June.

Dallas Federal Reserve Bank President Richard Fisher will speak on the economy in Portland, Ore., at 11:45 a.m.. A number of other Fed officials are also scheduled to give speeches throughout the week, including Chicago Fed President Charles Evans on Tuesday as well as Philadelphia Fed President Charles Plosser and Cleveland Fed President Sandra Pianalto on Wednesday.

A number of other stocks were also in focus on Monday.

Tyson Foods (TSN - Get Report) was jumping 3.86% to $29.61 after the meat processor posted quarterly earnings of 69 cents a share on revenue $8.731 billion, beating the average analyst estimate of 60 cents a share on revenue of $8.65 billion amid record chicken segment results.

Warren Buffett's Berkshire Hathaway (BRK.B - Get Report) was rising 1% to $119 after seeing second-quarter profit rise 46% as earnings got a boost from the estimated value of Berkshire's investments and derivatives. Those investments during the latest quarter were worth $622 million; a year earlier, the company recorded a loss of $612 million on the investments.

Three million Time Warner Cable (TWC - Get Report) customers in New York, Los Angeles, Dallas and other cities remained without access to CBS (CBS - Get Report) for a fourth day on Monday, after the cable provider dropped the network in a spat over fees.

The benchmark 10-year Treasury was shedding 5/32, raising the yield to 2.621%. The dollar was falling 0.13% to $81.80 according to the U.S. dollar index.

The FTSE 100 in London was falling 0.44%, while the DAX in Germany was slipping 0.27%. The Hong Kong Hang Seng closed up 0.14%, and the Nikkei 225 in Japan slid 1.44%.

Written by Andrea Tse in New York

>To contact the writer of this article, click here: Andrea Tse.>

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $107.72 -4.47%
CBS $43.78 -3.20%
BRK.B $130.58 -2.60%
TSN $41.42 -2.00%
TWC $183.58 -1.30%

Markets

Chart of I:DJI
DOW 16,058.35 -469.68 -2.84%
S&P 500 1,913.85 -58.33 -2.96%
NASDAQ 4,636.1050 -140.4030 -2.94%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs